News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bullish
Oil - US Crude
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
Mixed
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • What suits your style of trading stocks or commodities? Find out what are the differences in these two markets here: https://t.co/BnA07cMV0s https://t.co/ZwwuTzTeac
  • What's the difference between leading and lagging indicators? Find out from here: https://t.co/vGx8HCagF5 https://t.co/4DGXwA8vqs
  • Struggling to define key levels? Floor-Trader Pivots assist traders in identifying areas in a chart where price is likely to approach and can be used to set appropriate targets, while effectively managing risk. Learn how to use this indicator here: https://t.co/Ye4m1FMKUW https://t.co/mAMhWbV6Jy
  • Make smart trading decisions with your free guide to trade the news. Download your free guide here.https://t.co/pb5E2KgRzW #DailyFXGuides https://t.co/E9ZmJvqO0z
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here: https://t.co/4jsORznRTE https://t.co/fqxw1AoKc1
  • Gold snapped a two-week losing streak but keeps price within the broader August downtrend. These are the levels that matter on the $XAUUSD weekly chart. Get your market update from @MBForex here: https://t.co/B3Jct6mIBD https://t.co/xTGIM2hRBv
  • $GBPUSD continues to move higher, despite Friday’s weakness, as vaccination hopes continue to fuel positive sentiment despite ongoing lockdown fears and downbeat UK data. Get your market update from @nickcawley1 here: https://t.co/S8UoHzOwFN https://t.co/qI6UZdggvM
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here: https://t.co/IsnpfJhp91 https://t.co/6wxX6oQurn
  • Recessions can devastate the economy and disrupt the fortunes of individuals, businesses, and investors. But economic decline in the business cycle is inevitable, and your trading can be defined by how you respond to crisis. learn how to prepare here: https://t.co/e4CnobJCss https://t.co/w009tJEQZn
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here: https://t.co/rfwUWJfbz9 https://t.co/2AeO1AdD2M
NZD/USD Jumps as GDP Beats Analyst Estimates

NZD/USD Jumps as GDP Beats Analyst Estimates

Varun Jaitly,

Talking Points:

  • New Zealand GDP beat analyst’s estimates at 0.7% Q/Q and 2.8% Y/Y
  • Health Care and Construction were the largest drivers of growth in Q1
  • RBNZ and New Zealand FinMin call for weaker Kiwi to aid exports

Having trouble trading the New Zealand Dollar? This may be why.

The New Zealand Dollar spiked higher today after the country’s GDP figures crossed the wires and beat analyst expectations. The NZD/USD rose with bond yields, as better than expected growth figures weighed on RBNZ rate cut expectations. New Zealand’s GDP quarter over quarter increased by 0.7 percent versus 0.5 expected, and year over year increased by 2.8 percent versus 2.6 expected and 2.3 prior. The major sectors cited for the better than expected growth figures were construction and health care, both up 4.9 percent and 2.7 percent respectively. Manufacturing however, was down 0.4 percent over the March 2016 quarter, due to decreased production of food, beverages and tobacco. An increase in manufacturing inventories did lead to a buildup of 183 million dollars in overall inventories.

Gross Domestic Expenditures also grew over the accounting period, fueled by increased activity in fixed assets and a pickup in household consumption. Fixed asset growth was mainly driven by investment in residential building and general construction activity. Household consumption showed increased spending in services, durable goods and non-durable goods. Exports of goods and services were lower this previous quarter by 1 percent. This data is also in line with recent statements by the Reserve Bank of New Zealand that sees the stronger New Zealand dollar as a detriment to exports. Due to this the RBNZ stated in their June monetary policy statement that “a lower New Zealand Dollar would raise tradables inflation”. Comments from New Zealand’s Finance minister’s address to parliament prior to the release echoed the RBNZ’s sentiments.

NZD/USD Jumps as GDP Beats Analyst Estimates

(Source: www.stats.govt.nz)

NZD/USD Jumps as GDP Beats Analyst Estimates

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES